No problem paying depositors’ dividends this year, says Tabung Haji

According to its chairman, Lembaga Tabung Haji usually makes an announcement on the dividend for the previous year, by the end of the first quarter in the new year. – The Malaysian Insider file pic, January 25, 2016.Lembaga Tabung Haji (TH) chairman Datuk Seri Abdul Azeez Abdul Rahim (pic, below-left) today slammed critics who accused the pilgrims fund of facing problems in paying out its 2015 dividends this year, saying it has until March to do so.

Insisting that TH has no issue paying out dividends to its nearly nine million contributors this year, he said an announcement on the matter would be made soon.

Azeez was responding to Amanah vice-president Datuk Dr Mujahid Yusof Rawa's statement this morning urging the pilgrims fund to explain whether it could afford to pay dividends this year.

"Tell him (Mujahid), we will announce it shortly, don't worry.

"Tabung Haji has no problem (paying the dividend). As usual, we have until March (to announce it). You can look at our previous records," he told The Malaysian Insider.

However, Azeez refused to respond to other issues Mujahid had raised in his statement today, and urged contributors to wait for TH's announcement.

He also called depositors not to speculate on the date when they would be receiving their bonuses.

He said the fund would usually make the announcement in the year's first quarter, between January and March.

Azeez added that they needed to complete all initial auditing processes and obtain internal approval before moving forward with the payment.

He said there was nothing unusual as TH had previously announced the contributors' bonuses at the end of February or in early March.

"However, last year the announcement was made earlier," he said, adding that depositors should not be concerned about speculation.

Earlier today, Mujahid urged TH to disclose whether it made enough profit in 2015 to pay dividends to its contributors.

He said Clause 22(2)(i) of the Tabung Haji Act stated that the pilgrim fund’s contributors could not receive dividends if its assets were valued lower than its liabilities.

He added that the fund’s tendency of dipping into its reserves to pay out dividends since 2012 has raised alarm bells.Parti Amanah Negara vice-president Datuk Dr Mujahid Yusof Rawa wants Lembaga Tabung Haji to disclose whether it made enough profit in 2015 to pay dividends to its contributors. – The Malaysian Insider pic by Hasnoor Hussain, January 25, 2016.

- TMI